The publication of the Dear CEO letter by the Central Bank of Ireland will likely push or drive a number of self-managed investment companies or SMICs to set up their own management company.
We’re aware that this will be a regulatory and cost burden on behalf of those particular entities. As a recently established management company AMX Ireland has the substance and appropriate governance in place in line with the Central Bank of Ireland’s expectations to manage alternative investment funds and UCITS. Following the impact of Brexit and ESMA’s guidance around substance AMX Ireland have appointed six people to each of the key management functions, not only this but also appoints support staff for each of the key management functions.
In addition AMX governance framework and committees which oversee its day-to-day operations ensure that portfolio managers manage their portfolios while AMX Ireland provides regulatory oversight of funds, its delegates and service providers all in line with the expectations of the Central Bank of Ireland. AMX not only acts as management company to funds on this proprietary platform but can also act as third-party management company to self-manage investment companies or what’s commonly known as SMICs.
If you’d like to learn more about this please get in touch.